Making the Switch to Accept Chip & PIN Payment Cards

Merchants should already be aware of the migration to Chip and PIN technology in the Canadian payment system, that is moving away from the less secure magnetic stripe credit or debit cards.

The results after adopting Chip and PIN have been positive in Europe and this technology is now becoming the standard in Canada. After October 2010, merchants who are not using payment terminals that are EMV compliant Chip and PIN are considered liable for any fraudulent charges occurring because of the lack of security of their magnetic stripe card readers.

A few things to know when transitioning to Chip & PIN terminals:

Upgrading your software and hardware

In order for your business to take Chip and PIN cards, merchants must upgrade to Chip and PIN certified hardware. Your payment terminals must must also follow PCI standards. Ask your payment processor if the current version of your software is certified for Chip and PIN transactions. If your provider is not PCI compliant, Kubera offers multiple solutions.

How can ECRi simplify your switch?

ECRi (Electronic Cash Register interface) technology moves PCI compliance responsibilities to the payment processor. Merchants can use their existing compliant point of sale solutions and combine it with an ECRi that has the capability to communicate directly with the existing terminal. Using a PCI compliant payment terminal with ECRi, allows merchants to process payments without sending customer account data through the POS system. This solution reduces transaction fees, avoids needing multiple PCI compliant devices, and the payment processor maintains the updates to the payment equipment.

How much will switching to Chip and PIN technology cost?

The cost of migrating to Chip and PIN varies depending on your business and how recently you have upgraded your hardware. Merchants already operating with Chip-capable POS terminals may only need to update an agreement with their existing provider. At Kubera, we work with merchants to find and customize a solution that fits your needs. Contact us to help get you started.